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1. What is the latest mandatory car insurance premium?
Currently, the mandatory civil liability insurance premium rates for each type of automobile are applied according to Appendix I of Decree 67/2023/ND-CP as follows:
TT | Vehicle type | Insurance premium (VND) |
I | Non-commercial vehicles | |
1 | Vehicles with fewer than 6 seats | 437,000 |
2 | Vehicles with 6 to 11 seats | 794,000 |
3 | Vehicles with 12 to 24 seats | 1,270,000 |
4 | Vehicles with more than 24 seats | 1,825,000 |
5 | Vehicles that carry both people and goods (Pickup, minivan) | 437,000 |
II | Commercial transport vehicles | |
1 | Less than 6 seats as registered | 756,000 |
2 | 6 seats as registered | 929,000 |
3 | 7 seats as registered | 1,080,000 |
4 | 8 seats as registered | 1,253,000 |
5 | 9 seats as registered | 1,404,000 |
6 | 10 seats available upon request. | 1,512,000 |
7 | 11 seats as registered | 1,656,000 |
8 | 12 seats as registered | 1,822,000 |
9 | 13 seats as registered | 2,049,000 |
10 | 14 seats as registered | 2,221,000 |
11 | 15 seats available upon request. | 2,394,000 |
12 | 16 seats as registered | 3,054,000 |
13 | 17 seats as registered | 2,718,000 |
14 | 18 seats as booked | 2,869,000 |
15 | 19 seats as registered. | 3,041,000 |
16 | 20 seats available upon request. | 3,191,000 |
17 | 21 seats as registered. | 3,364,000 |
18 | 22 seats as booked. | 3,515,000 |
19 | 23 seats as booked. | 3,688,000 |
20 | 24 seats available upon request. | 4,632,000 |
21 | 25 seats available upon request. | 4,813,000 |
22 | Over 25 seats | [4,813,000 + 30,000 x (number of seats - 25 seats)] |
23 | Vehicles that carry both people and goods (Pickup, minivan) | 933,000 |
III | Cargo vehicles (trucks) | |
1 | Under 3 tons | 853,000 |
2 | From 3 to 8 tons | 1,660,000 |
3 | Over 8 to 15 tons | 2,746,000 |
4 | Over 15 tons | 3,200,000 |
son-in-law | Driving school car | 120% of the fee for vehicles of the same type. |
V | Taxi | 170% of the commercial vehicle fee for the same number of seats. |
VI | Special-purpose vehicles | |
1 | Ambulance | 1,119,000 |
2 | Other specialized motor vehicles have specified design load limits. | 120% of the insurance premium for a cargo vehicle of the same weight. |
3 | Other specialized motor vehicles not specified in terms of design load capacity. | 1,023,600 |
VII | Tractor-trailer | 4,800,000 |
8 | Bus | Calculated based on the insurance premium for non-commercial vehicles with the same number of seats. |
Note: Based on the insurance claims history of each vehicle or the accident history of the vehicle owner, insurance companies may proactively consider adjusting the insurance price upwards or downwards.
The maximum increase or decrease in insurance premiums is 15% based on the aforementioned car insurance selling price.
2. Will I be fined for not having mandatory car insurance?
According to point d, clause 2, Article 58 of the 2008 Road Traffic Law, one of the conditions for drivers to participate in traffic is to have a certificate of civil liability insurance for motor vehicle owners.
If you do not purchase mandatory car insurance, when driving a vehicle in traffic, the vehicle owner will be fined for traffic violations as stipulated in Article 21 of Decree 100/2019/ND-CP (amended by Decree 123/2021/ND-CP) for the crime of not having or not carrying a valid Certificate of Civil Liability Insurance for motor vehicle owners, with a fine ranging from VND 400,000 to VND 600,000.
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